OVERSEA CHINESE BANKING Corp Ltd Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 36,594 shares of the semiconductor company's stock, valued at approximately $7,380,000.

Other large investors have also recently made changes to their positions in the company. Portland Global Advisors LLC increased its stake in Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after buying an additional 53 shares during the period. Cassady Schiller Wealth Management LLC increased its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Analog Devices by 14.8% in the first quarter. Continuum Advisory LLC now owns 443 shares of the semiconductor company's stock worth $89,000 after acquiring an additional 57 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Analog Devices by 1.1% in the first quarter. Alps Advisors Inc. now owns 5,688 shares of the semiconductor company's stock worth $1,147,000 after acquiring an additional 60 shares in the last quarter. Finally, Keystone Financial Services boosted its holdings in shares of Analog Devices by 1.6% during the first quarter. Keystone Financial Services now owns 3,791 shares of the semiconductor company's stock worth $765,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $0.19 on Wednesday, hitting $240.61. The stock had a trading volume of 2,842,002 shares, compared to its average volume of 3,605,479. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $248.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. The firm's 50 day moving average price is $228.63 and its 200-day moving average price is $214.27. The company has a market capitalization of $119.40 billion, a price-to-earnings ratio of 65.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.65%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ADI shares. Piper Sandler decreased their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, June 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Cfra Research lowered shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 22nd. Finally, Cowen reaffirmed a "buy" rating on shares of Analog Devices in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.67.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director directly owned 180,071 shares of the company's stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.